a good buying time?, page-19

Hi rick23

The stocks you mention I know nothing about except MPO which I have on my watch list.

Just some back of the envelop calcs I'm using with CXY.

Current market cap $7.5M.

Possible near term events......

Legal matters....while the company is claiming $34M I have discounted that to $15M.

Sale of Qld coal assets while figures approaching $50m have been banded about my figure is a possible $30M.

So....if those two events were to occur we have a company with cash of $45M with 1.5B shares on the registry.

I'll leave you to do the sums but I come up with 3c a share cash backing.

Penny dreadfuls are just as the name implies.

This is all JMHO but it's the reason why I'm invested in CXY.

With an average buying price of just over 0.005 I see CXY as a good high risk high reward play.

Cheers.

DYOR